07.11.2014 - Technical view

The price of EUR/USD could not overcome the inclined resistance level and to gain a foothold above the mark 1.2500, and accelerated the decline. Because of the strong downward momentum quotes has broken through the level of 1.2400 and continue to decline. Today is expected the increase of volatility and the price is likely to fall further. We maintain a medium-term negative outlook for the euro and recommend holding short positions with the targets 1.2200 and 1.2000 and stop above 1.2750.

Nearest resistance levels: 1.2450, 1.2500, 1.2600, 1.2700, 1.2825, 1.2925, 1.3000, 1.3160

Nearest support levels: 1.2200, 1.2000

The price of GBP/USD after a long consolidation below the important level of, 1.6000 started to decline and has broken through the local minimum near 1.5880. Fixing the price below this mark can serve as a basis to open short positions. Growth within the correction is limited by a strong level of 1.6000. We expect a continuation of the downward price movement in the near future.

Nearest resistance levels: 1.5880, 1.5960, 1.6000, 1.6200, 1.6300, 1.6400, 1.6450

Nearest support levels: 1.5800, 1.5600, 1.5500

The price of USD/JPY after re-achieving the target level of 115.00, continued the growth and is trying to gain a foothold above 115.00. Further growth of quotations is likely to the level of 120.00. In case of correction the price may fall to the level of 113.00 and 114.00. At the moment, there is no reason to talk about changing the positive trend and we recommend holding long positions with a stop below 112.00. The medium-term outlook also remains positive.

Nearest resistance levels: 120.00, 122.00, 125.00

Nearest support levels: 115.00, 113.00, 110.00, 108.50, 107.60, 107.00, 106.00, 105.40

The price of AUD/USD continues to decrease along the lower boundary of the local descending channel. The growth of the price in the near future is possible only within the correction, and to the upper boundary of the channel. In case of resumption of growth a signal of changing the negative trend to positive will be fixing the price above 0.8900. We maintain a medium-term negative outlook and recommend holding short positions with the closest target near 0.8500.

Nearest resistance levels: 0.8600, 0.8660, 0.8800, 0.8900, 0.9000, 0.9100, 0.9130, 0.9200

Nearest support levels: 0.8550, 0.8500, 0.8360

The price of NZD/USD fixed below the level of 0.7740 and continued to decline to the lower boundary of the local descending channel. Correction of price is possible to the level of 0.7800 and the upper boundary of the channel. We forecast a fall in the price of the New Zealand dollar in the medium term with a target level of 0.7500. Stop should be set higher than 0.7800.

Nearest resistance levels: 0.7740, 0.7800, 0.7950, 0.8000, 0.8050, 0.8270, 0.8350

Nearest support levels: 0.7500, 0.7300

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